April 17th : Toriola trims BNK target to $5
Globe says Toriola trims Bankers Petroleum target to $5
Bankers Petroleum Ltd (2) (C:BNK)
Shares Issued 250,736,320
Last Close 4/16/2012 $3.71
Tuesday April 17 2012 - In the News
The Globe and Mail reports in its Tuesday, April 17, edition that UBS Securities analyst George Toriola continues to rate Bankers Petroleum ($3.71) "buy." The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Toriola downgraded his target price on Bankers Petroleum share by $2 to $5. Mr. Toriola notes that Bankers Petroleum reported disappointing results at its Ardenica exploration well on block "F" in Albania, with no hydrocarbons being found. The analyst says that while the company expects to drill another exploration well on the same block in the fourth quarter, there is now "greater risk" associated with the company's thermal steam project in the country. The Globe reported on July 20, 2011, that Bankers Petroleum was a top holding of Sentry Select manager Laura Lau. The shares were then worth $6.06. The Eye column reported on March 22, 2012, that Mr. Toriola rated Bankers Petroleum "buy." He targeted the stock at $7. The shares were then trading at $4.31. In the same item, Dundee Securities analyst Alex Klein downgraded Bankers Petroleum to "neutral, high risk" from "buy" and trimmed his price target by $1.10 to $7.60. The stock has a 52-week range of $2.95 to $8.78.